OGJ150 firms post improved 2010 results with stronger prices, production, reserves

Marilyn Radler Senior Editor-Economics Laura Bell Statistics Editor The OGJ150 group of oil and gas producers recorded much-improved 2010 financial and operating results compared with results from a year earlier, buoyed by stronger crude prices and increased production volumes. A rebound in global economic growth last year provided a boost to worldwide oil demand, which climbed to average 88.2 million b/d, up from 85.5 million b/d in 2009, according to the International Energy Agency. Most of the 2010 oil demand growth was recorded in developing countries, as Organization for Economic Cooperation and Development (OECD) members posted a combined 600,000 b/d increase in oil demand. Oil pric...

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